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As others have said, FIP and BABIP are useful to look at as they can help explain how the defense performed behind the pitcher. They also can help to provide some context to the offensive environment of the league the pitcher is in. For example, pitcher's in the Pacific Coast League are likely going to have higher ERA's than say the International League, since the ballparks are more conducive to offensive output. FIP and BABIP can help to somewhat explain that.
I also like to look at a pitcher's K% and BB%
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